Section 7(2) in The Jammu and Kashmir Fiscal Responsibility and Budget Management Act, 2006
(2)In particular and without prejudice to the provisions contained in sub-section (1), the Medium Term Fiscal Policy Statement shall include the various assumptions behind the fiscal indicators an assessment of sustainability relating to -(i)the balance between revenue receipts and revenue expenditure;(ii)[ the use of capital receipts for creation and/or maintenance of productive assets and the borrowings over and above existing fiscal deficit limit for the purpose of clearing past liabilities and/or creating fresh assets;] [Substituted by Act No.3 of 2018, dated 13.2.2018.](iii)the estimated yearly pension liabilities worked out on actuarial basis for the next ten years:Provided that in case it is not possible to calculate the pension liabilities on actuarial basis during the period of first three years after the enforcement of the Act, the Government may, during that period, estimate the pension liabilities by making forecasts on the basis of trend growth rates.
